Pakistan’s exports increased by 10.52% in the first half (July-December) of fiscal year 2024-25, reaching $16.561 billion compared to $14.985 billion in the same period last year, according to data released by the Pakistan Bureau of Statistics (PBS).
Imports also saw a rise of 6.11% during the six-month period, climbing to $27.733 billion from $26.137 billion in the previous year.
As a result, the trade deficit for H1 FY25 slightly widened by 0.18%, standing at $11.172 billion compared to $11.152 billion during the same period last year.
In December 2024, the trade deficit surged by 46.61% month-on-month (MoM) to $2.444 billion from $1.667 billion recorded in November. On a year-on-year (YoY) basis, the December trade deficit widened by 34.80%, compared to $1.813 billion in the same month last year.
Exports in December 2024 edged up by 0.67% YoY to $2.841 billion from $2.822 billion in December 2023. On a MoM basis, exports saw a marginal increase of 0.28%, rising from $2.833 billion in November 2024.
Imports in December rose significantly by 14.02% YoY to $5.285 billion compared to $4.635 billion in December 2023. On a monthly basis, imports grew by 17.44% from $4.500 billion in November 2024.
The widening trade deficit highlights the persistent challenges in balancing trade dynamics, despite export growth in key sectors. As imports continue to rise at a faster pace, the government may need to explore strategies to curb the trade gap in the coming months.
